The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.11 - Manufacture Of Electronic Components
250 jobs Number of planned job creations
Announcement Date
31 May 2024
Employment effect (start)
31 May 2024
Foreseen end date
31 December 2026
Description
The Hungarian subsidiary of Japanese electronics multinational TDK officially launched its new production hall in Szombathely, Western Transdanubia. The installation of the production lines is about to start. The new site will reach full capacity in 2026 – by then, it will have 250 employees.
The production hall will primarily produce heat sensors for electric cars, but also sensors for refrigerators and heating-cooling systems. The expansion is mainly a response to the envisaged market opportunities generated by the transition to electromobility.
The investment cost is €70 million. The Hungarian government provides a subsidy of roughly €18 million.
TDK is already one of the largest employers in Szombathely, with a workforce of some 2200. It has produced components for consumer electronics products and various smart car applications.
Sources
31 May 2024: Hungarian Investment Promotion Agency (hipa.hu)
Eurofound (2024), TDK Hungary Components, Business expansion in Hungary, factsheet number 201282, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201282.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
